Khotin, the former owner of Ugra Bank, involved about 700 companies in a criminal scheme

Alexey Khotin, the former owner of Ugra Bank, who was convicted of embezzlement of over 23 billion rubles, managed to involve over 700 companies in his illegal scheme. This was confirmed on October 7 by the materials of the relevant criminal case.

"The complexity of the criminal case is due to the need to study the financial and economic activities of at least 700 commercial organizations involved in the criminal scheme over a period of several years, with an analysis of their accounting, banking, personnel and other documentation, cash flows on accounts of credit institutions," RIA Novosti cites the contents of the documents.

It is specified that the investigative measures, which involved accountants and computer technology specialists, were carried out in several regions of the Russian Federation at once.

On October 6, Izvestia's source announced the termination of the preliminary investigation into Khotin's case, who pleaded not guilty.

On March 4, 2024, Khotin was sentenced to nine years in a penal colony in accordance with Part 4 of Article 160 of the Criminal Code of the Russian Federation ("Large-scale embezzlement"). As the Izvestia correspondent clarified from the courtroom, the former president of Ugra, Alexei Nefedov, received 8.5 years in a general regime colony, ex—chairman of the board Dmitry Shilyaev - eight years, and ex—director of the Moscow branch Nina Chernova - six years.

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